Inflation held steady at 2.7% in April in Fed’s preferred gauge

[mystery-ak]

Inflation held steady at 2.7% in April in Fed’s preferred gauge
By
Zachary Halaschak
and
Joseph Lawler
May 31, 2024 8:32 am
.

Inflation held steady at a 2.7% annual rate in April, as measured by the gauge favored by the Federal Reserve.

The new personal consumption expenditures price index numbers reported Friday morning by the Bureau of Economic Analysis were in line with forecasts.

The lack of downward progress in headline inflation is unwelcome news for President Joe Biden and the Federal Reserve, which has been seeking more evidence that its campaign to lower inflation by raising interest rates is working. The Fed’s target is 2% inflation in the PCE index.

From March to April, inflation rose 0.3%, in line with forecast expectations.

Core PCE inflation, a measure of inflation that strips out volatile energy and food prices, also held steady at a 2.8% year-over-year rate.

more
https://www.washingtonexaminer.com/policy/finance-and-economy/3022520/inflation-held-steady-at-2-7-in-april-in-feds-preferred-gauge/

[mystery-ak]

Published May 31, 2024 8:33am EDT
Inflation measure closely watched by the Fed rises 0.3% in April
Labor Department releases closely watched inflation data

The personal consumption expenditures index showed that prices rose 0.3% from the previous month, according to the Labor Department. On an annual basis, prices climbed 2.7%. Both of those figures are in line with expectations.

This is a developing story. Please check back for updates.

https://www.foxbusiness.com/economy/inflation-measure-closely-watched-fed-rises-0-3-april

[rustynail]

'This is a developing story. Please check back for updates.'  or next month's revision.